Quick Answer
The answer is cost variance (CV). This metric is the correct choice because it directly measures the difference between earned value (EV) and actual cost (AC), providing the precise variance of actual costs from the planned budget that the stakeholder requested. On the CompTIA Project+ PK0-005 exam, this question tests your ability to match stakeholder reporting needs with the appropriate earned value management (EVM) metric, often appearing in scenario-based questions where a stakeholder asks for a cost-focused report. A common trap is confusing CV with schedule variance (SV) or cost performance index (CPI); remember that variance is an absolute difference, not a ratio. For a quick memory tip, think of CV as “Cost Variance = EV minus AC”—if the result is negative, you’re over budget, which is exactly what the stakeholder report needs to flag.
This PK0-005 practice question tests your understanding of project management concepts. Read the scenario carefully and evaluate each option against the stated constraints before committing to an answer. After answering, compare your reasoning against the explanation and wrong-answer breakdown below. Once you have made your selection, read the full explanation to reinforce the concept and understand why each distractor is designed to mislead on exam day.
During a project status meeting, a stakeholder requests a report showing the variance of actual costs from the planned budget. Which metric should the project manager include?
Cost variance (CV)
CV measures the difference between earned value and actual cost.
Schedule performance index (SPI)
Why wrong: SPI is a schedule ratio.
Cost performance index (CPI)
Why wrong: CPI is a ratio, not a dollar variance.
Schedule variance (SV)
Why wrong: SV measures schedule performance, not cost.
Answer choices
Answer the question above first, then reveal the full breakdown to understand why each option is right or wrong.
Correct answer & explanation
Cost variance (CV)
Cost variance (CV) is the direct measure of the difference between the earned value (EV) and the actual cost (AC), showing exactly how actual costs deviate from the planned budget. Since the stakeholder specifically requests a report on variance of actual costs from the planned budget, CV is the correct metric. CV = EV - AC, where a negative value indicates overspending.
Key principle: Answer the scenario, not the keyword: identify the specific constraint before choosing the most familiar-sounding option.
Answer analysis
For each option: why learners choose it and why it is or isn't the right answer here.
Cost variance (CV)
Why this is correct
CV measures the difference between earned value and actual cost.
Related concept
Read the scenario before looking for a memorised answer.
Schedule performance index (SPI)
Why it's wrong here
SPI is a schedule ratio.
Cost performance index (CPI)
Why it's wrong here
CPI is a ratio, not a dollar variance.
Schedule variance (SV)
Why it's wrong here
SV measures schedule performance, not cost.
Common exam traps
The trap here is that candidates confuse Cost Performance Index (CPI) with Cost Variance (CV), but CPI is a ratio (efficiency metric) while CV is an absolute dollar variance, and the question explicitly asks for a variance, not a ratio.
Detailed technical explanation
CV is part of Earned Value Management (EVM) and is calculated as EV minus AC. A negative CV means the project is over budget, while a positive CV indicates under budget. In real-world scenarios, CV is often tracked cumulatively over the project lifecycle to identify cost overruns early, and it is reported in the same currency unit as the budget (e.g., USD).
Key takeaway
Answer the scenario, not the keyword: identify the specific constraint before choosing the most familiar-sounding option.
Real-world example
A practitioner preparing for the PK0-005 exam encounters this exact type of scenario on the job. The correct answer here is not the most general option — it is the best answer for the specific constraint described. Answer the scenario, not the keyword: identify the specific constraint before choosing the most familiar-sounding option. Real exam questions reward reading the full scenario before eliminating options, because the constraint defines which answer fits.
What to study next
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FAQ
Project Management Concepts — This question tests Project Management Concepts — Read the scenario before looking for a memorised answer..
The correct answer is: Cost variance (CV) — Cost variance (CV) is the direct measure of the difference between the earned value (EV) and the actual cost (AC), showing exactly how actual costs deviate from the planned budget. Since the stakeholder specifically requests a report on variance of actual costs from the planned budget, CV is the correct metric. CV = EV - AC, where a negative value indicates overspending.
Identify which exam domain this question belongs to, review the core concept, then practise similar questions from the same domain.
Read the scenario before looking for a memorised answer.
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Last reviewed: Jun 24, 2026
This PK0-005 practice question is part of Courseiva's free CompTIA certification practice question bank. Courseiva provides original exam-style practice questions with explanations, topic-based practice, mock exams, readiness tracking, and study analytics to help learners prepare for the PK0-005 exam.
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